ECONOMICS
DECISION MAKING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Listing alternative decisions
|
|
|
Procrastination
|
|
|
Impulse decisions
|
|
|
Doing it on your own
|
Detailed explanation-1: -Selecting the best solution is the most critical part of decision making. There is a risk element involved in each alternative against the expected gain. Selection should be made at proper time. Selection of decision is also affected by the limited resources available at our disposal.
Detailed explanation-2: -Try to clearly define the nature of the decision you must make. This first step is very important. Collect some pertinent information before you make your decision: what information is needed, the best sources of information, and how to get it.
Detailed explanation-3: -Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.
Detailed explanation-4: -Selection of the best alternative in the decision-making process depends on which of the following? Supervisors ingenuity in developing alternatives.